KEXIM in $2 Billion Offering

June 29, 2021

Cleary Gottlieb represented The Export-Import Bank of Korea (KEXIM) in its SEC-registered triple-tranche offering of $750 million 0.625% notes due 2024, $750 million 1.125% notes due 2026, and $500 million 2.5% notes due 2041.

The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The offering priced on June 22, 2021, and closed on June 29, 2021.

The notes were listed on the Singapore Exchange. BofA Securities, Crédit Agricole CIB, Mizuho Securities, NH Investment, Société Générale, and Standard Chartered Bank were the joint bookrunners and lead managers, and KEXIM Bank (UK) Limited was the co-manager for the offering.

KEXIM was established in 1976 as a special governmental financial institution pursuant to the Export-Import Bank of Korea Act to promote the sound development of the Korean economy and economic cooperation with foreign countries by extending the financial aid required for export and import transactions, overseas investment, and the development of natural resources abroad.